Russia is preparing to launch a new cryptocurrency exchange designed specifically for highly qualified investors.Â
Russiaâs Ministry of Finance and the Central Bank are preparing to launch a cryptocurrency exchange targeting âsuper-qualified investors,â according to Finance Minister Anton Siluanov. The announcement came during a board meeting of the Finance Ministry on Apr. 23, as reported by local media outlet RBC.
The planned platform is part of Russiaâs ongoing efforts to regulate digital assets under an experimental legal regime. According to Siluanov, the goal is to bring crypto operations âout of the shadows,â but within the boundaries of existing legal frameworks. Notably, the exchange will not operate within Russiaâs domestic financial system but will handle crypto transactions allowed under the ELR.
Currently, Russian law allows individuals to buy and hold cryptocurrencies but prohibits their use for domestic payments. There is also no centralized crypto exchange based in Russia, with citizens relying on offshore platforms to trade digital assets.
To participate in the proposed exchange, investors would need to meet stringent requirements. The Central Bank has suggested that âsuper-qualifiedâ status be reserved for individuals with over â½100 million (approximately $1.1 million) in investments or annual income exceeding â½50 million ($550,000).
However, Finance Ministry officials have said those thresholds are still under discussion. Those who donât meet these criteria may still gain crypto exposure through derivatives, which are products tied to the price of crypto assets but without actual delivery. These would be available to regular qualified investors.
The launch date for the new exchange has not been confirmed, though Deputy Finance Minister Ivan Chebeskov noted in March that a rollout is unlikely to begin for another six months. Despite the Central Bankâs continued opposition to cryptocurrency as legal tender, the initiative shows that Russian regulators are becoming more interested in embracing it cautiously under strict oversight.